Economics

Enrollment Message:

This course is designed to provide an overview of the ways that economics affects the lives of individuals and how individuals, through their economic choices, can shape their world. This one-semester course provides an overview of the basic principles of microeconomics and macroeconomics, including: a) economic theory; b) supply, demand and price; c) economic systems; d) business cycles; e) investments; f) the role of government, g) international trade; and h) consumer choices. Students will also apply the principles of this course to issues related to personal finance. Prerequisites: None

Course Objectives: Upon completion of this course, students will:

• Develop an economic way of thinking;

• Distinguish different economic systems used throughout the world;

• Understand the application of basic economic concepts and decision-making skills including scarcity and the different methods of allocation of goods and services;

• Identify consequences of public policies and their potential economic effects;

• Understand how microeconomics examines the costs and benefits of economic choices relating to individuals, markets and industries, and governmental policies;

• Understand the roles of productivity, investment in human and physical capital, research and development, and technical development in economic growth; and

• Apply concepts from economics in issues related to personal finance, educational opportunities, career decisions, and investments.

Course Outline:

Unit 1: Economic Choices: How Individuals, Businesses, and Governments Make Decisions

Unit 2: Understanding Markets, Prices, Supply, and Demand

Unit 3: Government and the Economy

Unit 4: Understanding the American National Market

Unit 5: Roles of Government in the U.S. Economy

Unit 6: Types of Economic Systems

Unit 7: Economic Interdependence: The Importance of Trade

Unit 8: Understanding Personal Finance

Resources Included: Online lesson instruction and activities, opportunities to engage with a certified, online instructor and classmates, when appropriate, and online assessments to measure student performance of course objectives and readiness for subsequent academic pursuits.

Additional Costs: N/A

Scoring System: Michigan Virtual does not assign letter grades, grant credit for courses, nor issue transcripts or diplomas. A final score reported as a percentage of total points earned will be sent to students upon completion of a course. Your school mentor is also able to access this score within the Student Learning Portal. Schools may use this score for conversion to their own letter grading system.

Time Commitment: Semester sessions are 18-weeks long: Students must be able to spend 1 or more hours per day in the course to be successful. Summer sessions are 10 weeks long: Students must be able to spend a minimum of 2 or more hours per day, or about 90 hours during the summer, for the student to be successful in any course. Trimester sessions are 12-weeks long: Students must be able to spend 1.5 or more hours per day in the course to be successful.

Technology Requirements: Students will require a computer device with headphones, a microphone, webcam, up-to-date Chrome Web Browser, and access to YouTube.

Please review the Michigan Virtual Technology Requirements: https://michiganvirtual.org/about/support/knowledge-base/technical-requirements/ 

Instructor Support System: For technical issues within your course, contact the Customer Care Center by email at [email protected] or by phone at (888) 889-2840.

Instructor Contact Expectations: Students can use email or the private message system within the Student Learning Portal to access highly qualified teachers when they need instructor assistance. Students will also receive feedback on their work inside the learning management system. The Instructor Info area of their course may describe additional communication options.

Academic Support Available: In addition to access to a highly qualified, Michigan certified teacher, students have access to academic videos and outside resources verified by Michigan Virtual. For technical issues within the course, students can contact the Michigan Virtual Customer Care by email at [email protected] or by phone at (888) 889-2840.

Required Assessment: Online assessments consist of formative and summative assessments represented by computer-graded multiple choice, instructor-graded writing assignments including hands-on projects, model building and other forms of authentic assessments.

Technical Skills Needed: Basic technology skills necessary to locate and share information and files as well as interact with others in a Learning Management System (LMS), include the ability to:

  • Download, edit, save, convert, and upload files
  • Download and install software
  • Use a messaging service similar to email
  • Communicate with others in online discussion or message boards, following basic rules of netiquette
  • Open attachments shared in messages
  • Create, save, and submit files in commonly used word processing program formats and as a PDF
  • Edit file share settings in cloud-based applications, such as Google Docs, Sheets, or Slides
  • Save a file as a .pdf
  • Copy and paste and format text using your mouse, keyboard, or an html editor’s toolbar menu
  • Insert images or links into a file or html editor
  • Search for information within a document using Ctrl+F or Command+F keyboard shortcuts
  • Work in multiple browser windows and tabs simultaneously
  • Activate a microphone or webcam on your device, and record and upload or link audio and/or video files
  • Use presentation and graphics programs
  • Follow an online pacing guide or calendar of due dates
  • Use spell-check, citation editors, and tools commonly provided in word processing tool menus
  • Create and maintain usernames and passwords

Additional Information: None

Details


School Level: High School
Standards: Michigan High School Content Expectations
NCAA Approved: Yes
Alignment Document: Document
Course Location:
NCES Code: 04201
MDE Endorsement Code: CA - Economics
MMC Minimum Requirements: Soc Stud - Economics

When Offered: _Internal Use Only

Content Provider: Michigan Virtual
Instructor Provider: Michigan Virtual

Course Type: Plus